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Second Nature and the Intentional Endowments Network would again like to thank everyone who participated in the year-long 2021 Climate Action Pursuit! Thank you to our planning design committee, sponsors, host institutions, organizational partners, Second Nature & IEN staff and interns, and all of you who "attended"!  

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 - Your Second Nature & IEN Teams
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Friday, February 26 • 2:00pm - 3:00pm
Racial Equity Investing - Creating Your Own Best Practices

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For investors looking to truly address the economic effects brought on by social inequities, progress towards racial equity must be a key consideration in the investment approach. In this session, we will hear from an asset allocator, investment consultant, and asset manager who have made considerable strides in racial equity investing, spanning from enhancing diversity within their own institutions, investing with diverse founders, allocating to funds or businesses that focus on improving socio-economic outcomes for people of color, or engaging with companies on issues that relate to diversity, equity, and inclusion.

The panelists will walk participants through their own journeys providing concrete examples of what racial equity investing looks like, best practices that they have learned in their journey, and hurdles they had to overcome. We will also break out into smaller groups to discuss pain points and workshop your own racial diversity and equity plans. The purpose of this session is for participants to leave with a strong sense of what can be done as the next steps within their own organizations.

Some key takeaways from this session:
  • There is no performance gap that explains the capital allocation gap to diverse managers. You can argue that asset owner portfolios are at a relative distangage if they’re not getting the representative allocation to top performing diverse managers. This is a social issue as well as an investment issue.
  • To catalyze movement of capital to diverse managers, investors need to shift our due diligence processes to consider track record alternatives, expand what it means to work together ,reassess AUM as a risk metric, respect BIPOC time, contextualize fees, include historically unrecognized risks, be willing to go first, offer transparency about remaining hurdles, provide detailed feedback (more on these points on Due Diligence Commitment 2.0)  
  • Asset owners and allocators need to take a multi-pronged approach such as looking at asset management firm’s diversity in ownership & leadership, commitment to the next generation pipeline building, and assets invested with diverse founders.

avatar for Justin Wilson

Justin Wilson

Director, Diverse Asset Management Initiative (DAMI)

avatar for Rachel Robasciotti

Rachel Robasciotti

Founder & CEO, Adasina Capital
avatar for Gerry Watson

Gerry Watson

Executive Vice President of Finance & Operations, Rockefeller Brothers Fund
avatar for Tamara Larsen

Tamara Larsen

Executive Director, Mission-Aligned Investing, Agility
Tamara Larsen is an Executive Director with Agility, where she leads the Mission-Aligned Investment practice of the firm and sits on the Agility Investment Committee. Tamara is responsible for partnering with clients to further align their investment portfolio with their values. She... Read More →

Friday February 26, 2021 2:00pm - 3:00pm EST